Demand continues to outpace record supply. Municipal bonds remain an attractive income opportunity in a market where the Federal Reserve (Fed) is likely to remain on hold and carry is driving returns. Despite record issuance of roughly $50 billion per month, demand has remained strong, supported by a reinvestment wave that is running approximately 40% above last year and favorable summer technicals.

The yield curve favors intermediate maturities. Within the market, the yield curve presents the clearest opportunity, with nearly 100 basis points of steepness from 1 to 30 years, making the intermediate maturities particularly compel

For generations, investors have operated within the framework of fixed exchange trading hours. That model is increasingly being challenged as global markets evolve. In July 2026, the London Stock Exchange (LSE) unveiled plans for LSE 24, a new trading venue intended to facilitate near-continuous trading throughout the business week. The initiative reflects a broader shift in market structure as advances in technology, changing investor preferences, and intensifying competition drive exchanges to expand beyond traditional trading sessions. This, too, comes after Nasdaq filed for SEC approval to extend the Nasdaq Stock Market trading hours to 2

While real estate is often treated as a single asset class, investors access it through two distinct markets: public real estate, primarily via publicly traded Real Estate Investment Trusts (REITs), and private real estate, through direct ownership or private funds. Both convey an ownership interest in the underlying properties, but they differ in pricing mechanism, liquidity, and valuation practice. REITs trade continuously, so valuations adjust in real time to economic data, rate expectations, and earnings. Private real estate relies on periodic appraisals and infrequent transactions. As a result, public markets often lead private markets b

The Quick Take

• Advisors asked for greater customization — so LPL Research built it. Our new building block model portfolios let advisors tailor exposures one component at a time, then combine them for personalized portfolios at scale.

• Crossing $100 billion in model portfolio assets reflects advisor trust — and frees advisors to focus on clients’ most pressing needs.

• The industry is moving the same way: Cerulli reports managed account assets topped $16 trillion, with unified managed accounts (UMAs) growing fastest.

Ask financial advisors what they want from a